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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...
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fiscal cliff negotiations. the white house started a hash tag, my 2 k which refers to the $2,000 the average middle class american will pay in taxes if a deal is not reached. >>> that's how he gets it done, like the rest of us, huh? >> doing it himself. >>> a health scare for a former child star. a stroke that landed frankie muneasy in the hospital. >>> did you know there's a black friday at your doctor's office? why the date of your appointment matters so much. >>> and new this afternoon, a big break in the case of a man pushed to his death on theew york subway. plus, the backlash against the photographer who captured the victim's final moments. >>> a young star in hollywood is recovering today from a stroke. frankie muneasy suffered what he called a mini stroke. the malcolm in the middle star said, he was in the hospital last week, that he needs to start better care of his body and that the whole thing made him feel old. he turns 27 today. >>> at the end of the year, most health care providers are trying to c
fiscal cliff negotiations. the white house started a hash tag, my 2 k which refers to the $2,000 the average middle class american will pay in taxes if a deal is not reached. >>> that's how he gets it done, like the rest of us, huh? >> doing it himself. >>> a health scare for a former child star. a stroke that landed frankie muneasy in the hospital. >>> did you know there's a black friday at your doctor's office? why the date of your appointment matters so much....
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Dec 5, 2012
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cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and the proposal that we sent to the president deserves a response. >> reporter: maryland congressman steny hoyer warns congressional republicans are playing with fire. >> the creditworthiness of america ought not to be put at risk. >> the president did not take part in negotiations this week. and increasing unlikely. >> it's been observed that the president has yuped his ante when it comes to tough talk about the republicans in the midst of the fiscal cliff negotiations and at one point, using the v word saying he would veto any bill coming to his desk, not including the higher taxes for wealthier households, shawn. >> thank you, tom fit gerald. >>> the cuba
cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and the proposal that we sent to the...
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Dec 5, 2012
12/12
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other the fiscal cliff. there's still unresolved issues. >> what i don't get is if there are four murders in any town or city in this country, and on september 11th it was still unsolved, it would still be front page news. >> right. >> for some reason if we ask questions about it. >> you're obsessed with benghazi. >> we're obsessed or politicizing it, and the irony of it is the way to end the discussion is to give the information. all of it could be ended that way. >> where is the investigation? this is the longest-running investigation. columbo could have solved this by now. they didn't send the fbi until what was it, you were all over t. five weeks after the hit on september 11th. the fbi was still not on site. it's all just bizarre. >> that's why we need anna wintour. let's put her in charge of the investigation. maybe she'll get the answers. at least she'll be dressed well. >> tell me about your radio show. what's up with that? >> a lot of great speculation. a bit of a high day tus hiatus. i'll announce
other the fiscal cliff. there's still unresolved issues. >> what i don't get is if there are four murders in any town or city in this country, and on september 11th it was still unsolved, it would still be front page news. >> right. >> for some reason if we ask questions about it. >> you're obsessed with benghazi. >> we're obsessed or politicizing it, and the irony of it is the way to end the discussion is to give the information. all of it could be ended that way....
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Dec 5, 2012
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. >> i understand, but is it worth going over this fiscal cliff to do that or at this point let's just pure politics here, take away the president's best leverage. >> well, there again, you can't get to a workable long-term solution until you agree to address spending in the near term and the long term and until you address the two trust funds which are medicare and entitlements. the largest of which is medicaid. there are lots of bills and plans and approaches that have been presented over the last several years. >> i understand that. i want to read a quote from somebody you are familiar with. the ceo of fedex. this is what he said about tax rates. a lot of mythology in washington that it's small business that creates all the jobs in the united states and if you raise the rates on the top 2%, you'll kill jobs. the vast majority are produced by capital investment in equipment and software. that's not done by small business. he's saying stop fighting over this 2% and move on. >> what he is looking for is certainty in the regulatory world and in taxation. we hear that quite a bit. yes, i
. >> i understand, but is it worth going over this fiscal cliff to do that or at this point let's just pure politics here, take away the president's best leverage. >> well, there again, you can't get to a workable long-term solution until you agree to address spending in the near term and the long term and until you address the two trust funds which are medicare and entitlements. the largest of which is medicaid. there are lots of bills and plans and approaches that have been...
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Dec 5, 2012
12/12
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caller: the fiscal cliff and are 100 trillion dollar debt, mostly it's the fault of the american people. i blame congress in general for not having the courage to tell us the truth, but it is the american people who don't want to deal with that is essentially forcing this thing. host: 1 cumene? hat do you mean? caller: we have unsustainable debt. it has to be reformed. for decades we have been electing politicians will tell us what we want to hear, but we cannot pay for the programs we want. until the american people themselves can deal with the truth, we're not going to solve this. contacting our politicians, offering sacrifice of the programs we like is the only solution. until then, politicians will not have the courage to cut the programs that we simply tell them not to touch. host: here is the editorial in the wall street journal this morning -- rick? caller: it's like a bar tab. we are the runs that ran up the bartec. our grandchildren will ultimately have to pay it until we realize we have to stop drinking and start paying the bill, nothing will happen. host: what should happen t
caller: the fiscal cliff and are 100 trillion dollar debt, mostly it's the fault of the american people. i blame congress in general for not having the courage to tell us the truth, but it is the american people who don't want to deal with that is essentially forcing this thing. host: 1 cumene? hat do you mean? caller: we have unsustainable debt. it has to be reformed. for decades we have been electing politicians will tell us what we want to hear, but we cannot pay for the programs we want....